Economic Revitalisation Minister Confirms Resignation

In line with reports earlier in the day, Economic Revitalisaiton Minister Daishiro Yamagiwa has confirmed his resignation from PM Fumio Kishida's Cabinet. Yamagiwa's resignation comes after his links to the controversial Unification Church were queried by members of parliament's Budget Committee (see https://marketnews.com/kishida-considers-replacing...).

• Yamagiwa: 'I deeply regret that my multiple attendances at Unification Church Events gave credence to the group.'
• PM Kishida and his Cabinet are continuing to struggle with poor approval ratings in the wake of the assassination of former PM Shinzo Abe, whose assassin accused the former PM of promoting the sect that resulted in the bankruptcy of his mother.
• Kishida has launched a gov't inquiry into the Unification Church, with the multiple links between the organisation and the governing Liberal Democratic Party exposed in the wake of Abe's killing damaging public trust in the gov't.
• Given the numerous links between the Church and high-ranking LDP officials, there is the prospect that Yamagiwa's resignation sparks other departures from gov't.